Sherpa Capital raises $470 million in new capital and launches two new funds

Sherpa Capital, the private capital fund run by Scott Stanford and Shervin Pishevar, has closed on $470 million and launched two new funds: Sherpa Ventures II, an early stage venture fund and a mid-stage fund called Sherpa Everest, bringing the total now raised up to $630 million.

The three-year-old venture firm backing startups like Uber, SpaceX and Hyperloop One (where Pishevar is a co-founder) managed to raise $154 million for its first fund. Approximately $172 million will go to Sherpa Ventures II and the remaining $298 million will be given to Sherpa Everest – though there’s a possibility the fund could grow larger, pending some expected LP investment.

The firm is taking a unique approach, working with some LPs to offer co-investments in a handful of portfolio companies like Uber and Ipsy.

Pishevar will be joining us onstage this September in San Francisco for TechCrunch Disrupt. We look forward to speaking with him about his new funds and the future of transportation.